The truth is, unless you’re lucky enough to receive a sizable inheritance or win the lottery, you’ll need to create your own path to prosperity and steer clear of financial mistakes.
Despite the fact that the examples we have, such as Bill Gates or Mark Zuckerberg, are definitely complex cases to copy, without a doubt, becoming a millionaire is within everyone’s reach. All you have to do is develop the right habits to avoid making financial mistakes.
Also read: A millionaire tells us how you can build a million dollars step by step
There are certain financial mistakes that millionaires never make, so the path to wealth will require some changes in your behavior and in your mind. Once you have made these adjustments you will begin to experience better results and it will be easier for you to set new goals. You will realize that what you learn in the process is significantly more valuable than the money itself.
Find below 4 financial mistakes that people with money never make and that make money disappear from your account:
Financial errors that make money disappear from your account.
1. Not saving.
Most people are experts at disappearing money. The last week of each month they are in a hurry waiting for the next payment. And the main reason is our impulses. If you see a certain sum in your bank account, you immediately think that it is there to spend it, you imagine everything you can buy and how you can have fun using this money.
You must eliminate this behavior immediately by learning how to save. We don’t need most of the goods we consume, they are simply impulses to show others what we have or to reward ourselves for our work.
Save at least 10% of your income and only use this money to invest. In the end, saving to put away is useless.
2. Excess entertainment.
Do you know exactly what percentage of your income you spend on parties, meal plans, and general entertainment? It is possible that not, but very surely this percentage oscillates between 30 and 50 percent. Everything to escape from the reality of work and routine, to share with your friends, meet new people and look for a bit of fun.
Also read: How to avoid having debts using the “magic number” technique
Clearly this is not bad, your body and your mind need these spaces, however, excessive entertainment is nothing more than a waste of time and money. On the contrary, the rich use that time to finance their dreams.
3. Work solely for money.
Most people work solely for money. However, what you should do is have money working for you. Robert Kiyosaki, author of the book “Rich Dad Poor Dad” refers to this concept and clearly explains how to achieve it.
On the other hand, wealth is not only generated by the amount of cash you can achieve from the sale of your products or services, but also the result of your contribution to society. The more you help and contribute, the society gives you back.
4. Not investing in yourself
May this be the year that you invest in yourself. Attend seminars, conferences, workshops, buy books, train, exercise, eat healthy. All this requires small investments, there is no better investment than the ones you make in yourself.
Years ago Benjamin Franklin explained it by means of this phrase “An investment in yourself, pays the best interest.” You must take your education into your own hands if you want to become a millionaire.
Remember that it is not what you get that makes you rich, but the person you become along the way.
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
